Copper futures settled at $6.71 per pound on Comex, their highest closing price in history. This rally is driven by supply constraints and investors rotating into scarce assets on concerns that US debt management will erode the dollar. Gold approached $4,666 per ounce, on track for its best month since 1999, while Bitcoin briefly topped $81,000 before retreating to around $79,000. The US Treasury doubled its maximum bond buyback size to at least $4 billion, triggering the liquidation of over $4 billion in short positions in cryptocurrencies.
Source: Read the original article
